Autumn Statement Budget: Nothing on transport but some Business Rates cheer

Thursday, 23 November 2023 Jonathon Harker

Perhaps not entirely surprisingly for a Chancellor working under Prime Minister Rishi “end to war on motorists” Sunak, Jeremy Hunt didn’t spend a lot of time on sustainable transport when giving his Autumn Statement 2023 this week.

Cycling UK’s Director of External Affairs Sarah McMonagle pointed out that the Autumn Statement – touted as benefiting business and employees – has “done nothing to give those people sustainable transport opportunities, whether they’re taking public transport, cycling or walking”.

Bike Club – kids’ bike rental platform – also had some critical words on the sustainability angle of Hunt’s measures. Bike Club’s Founder and CEO James Symes said the Autumn Statement had been “disappointing” as it hadn’t made it easier or cheaper for people to make sustainable consumer choices, adding that “government bodies need to be motivated and mandated to work harder and more collaboratively with UK business to challenge and change the perception that sustainability always comes at a higher cost”.

Business rates

There was, however, some good news for UK bike shops with the Chancellor announcing a business rates support package – worth £4.3 bn over 5 years – for high streets and small businesses. That included a rollover of 75% Retail, Hospitality and Leisure relief for 230,000 properties. There was also a freeze to the small business multiplier, which will protect around 90% of ratepayers for a fourth consecutive year.

There were some investment boosts which may be of limited interest to the UK cycle market too. Certainly there was not anything as interesting as last year’s aluminium import duty announcements.

Here’s more comment from the aforementioned on the Autumn Statement 2023:

Cycling UK’s Director of External Affairs Sarah McMonagle’s full quote read: “The Chancellor claimed he wanted to give people more opportunities, boost the economy and help the workforce. A surefire way of doing that would have been to increase funding for walking and cycling to give people more transport choices, which he failed to do.

“Every pound invested in cycling and walking makes our streets safer, more pleasant places and more profitable with a return on investment of nearly six pounds.

“This Autumn Statement was said to benefit business and employees but has done nothing to give those people sustainable transport opportunities, whether they’re taking public transport, cycling or walking.”

James Symes, Founder & CEO, Bike Club, said: “There have been reasons for consumers to be cheerful about the state of our economy over the last week: inflation has halved year-on-year and mortgage rates – that barometer of bank confidence – have slipped below 5%. Sadly, however, the Chancellor’s Autumn Statement has missed a chance to bolster that sense of cautious consumer optimism.

“Specifically, it is disappointing not to see any measures that are going to make it easier and cheaper for people to make sustainable consumer choices. Seven in ten (69%) UK adults say making sustainable or environmentally friendly consumer choices is important to them, but the same proportion (69%) blame the ongoing cost-of-living crisis for not being able to shop sustainably.

“Government bodies need to be motivated and mandated to work harder and more collaboratively with UK business to challenge and change the perception that sustainability always comes at a higher cost. It’s time for them to imagine a future where sustainability is accessible to all, making a lasting impact on consumer behaviour and driving change towards a more sustainable future.”